China refused to bow to what it called "blackmail" from the United States as a global trade war ignited by President Donald Trump's sweeping tariffs showed few signs of abating on Tuesday, even as battered stock markets steadied.
Beijing's rebuke came after Trump threatened to ratchet up tariffs on U.S. imports from the world's No. 2 economy to more than 100% on Wednesday in response to China's decision to match the "reciprocal" duties Trump announced last week.
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Beijing's rebuke came after Trump threatened to ratchet up tariffs on U.S. imports from the world's No. 2 economy to more than 100% on Wednesday in response to China's decision to match the "reciprocal" duties Trump announced last week.
Stocks slide again as US forges ahead with 104% tariffs on China — Reuters
The United States said on Tuesday that 104% duties on imports from China will take effect shortly after midnight, even as the administration of President Donald Trump moved to quickly start talks with other trading partners targeted by sweeping tariffs.